2.1Billion S. Sudanese Pounds In Circulation South Sudan has now circulated a total of 2.1billion of its new currency, the South Sudan Pound (SSP) since it started the conversion exercise on 18 July 2011nearly two weeks after gaining independence.02 September 2011 Dr Barnaba Marial Benjamin (The government Spokesperson) speaking to the press at State House in Juba [©Gurtong] By Waakhe Simon Wudu JUBA, 2nd September 2011 [Gurtong] - South Sudan has now circulated a total of 2.1billion of its new currency, the South Sudan Pound (SSP) since it started the conversion exercise on 18 July 2011nearly two weeks after gaining independence.
The government Spokesperson Dr. Barnaba Marial Benjamin told the press yesterday shortly after meeting the council of ministers that 1.6Billion of the Sudanese pounds had been converted so far. He said that September 1st 2011 marked the end of the conversion in the Republic of South Sudan prior to the 45 days given earlier on by the South Sudan Central Bank. "President Salva Kiir said in the council of ministers that today (1st September 2011) should be the last day of exchanging the Sudanese Pound into the South Sudan Pound,” Dr Marial who is also the Information Ministers told the press yesterday at State house in Juba. He added that, “So from tomorrow-(2nd September 2011) the Sudanese Gine-(pounds) is an illegal tender. It will no longer be used to buy anything in the Republic of South Sudan.” However, there is still an outcry in many parts of the country where conversion of the currency had not been effective due to insecurity and absence of banking services to facilitate the process. The Sudan Central Bank shortly after Marial’s Statement also released a coincidental statement, saying; “as of this date-(September 1), the old 10, 20 and 50 pound notes…will be unfit for circulation, while trading in the 1, 2 and 5 pound notes of the old category will continue…until further notice from the bank.” The South Sudan Central Bank earlier on said that 2.1billion Sudanese Pounds were in circulation at the time the bank released its new currency. Meanwhile South Sudan had earlier on accused Sudan of a plan to cripple her economy after launching her new currency days after South Sudan’s Independence. This went against the economic agreements the two countries had for 6 months. Posted in: Home, Business CommentsThere are currently no comments, be the -- You received this message because you are subscribed to the Google Groups "JFD info" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/jfdinfo?hl=en.
